Question

Goods taken by neel for personal use 3000.. journal entries​

Answer 1

Answer:

Drawing A /c Dr. 3000

To purchase A/c 3000

Answer 2

A journal entry is a straight record of the financial transactions of an enterprise in its accounting books

• The transactions of a business are recorded in a journal, which indicate the debit and credit balances. The term for amount for personal use is referred to as drawings.
• The correct journal entry is -

Drawings   A/c    Dr  3,000

To Cash/Bank A/c 3,000

( Being goods taken by Neel for personal use )